US Bank, Minneapolis, says its community-development finance arm has agreed to arrange $4.3 million in federal historic tax-credit financing for Michael Samschick's Center City-based Core Realty Inc. to help finance Core's $26 million development to "turn the historicAjax Metal Co. building (1000 Frankford Ave., Fishtown) into a concert venue, restaurant, bowling avenue and distillery," the bank says.
The 141,000 sq. ft. facility will house a Live Nation Fillmore concert theater, a Revolutions bowling alley, Trvinia Italian Kitchen, the as-yet unnamed distillery (because everyone already has a brewery), and "office and retail space." The theater makes finanical sense thanks to the tax credits, Laura Vowell, a US Bank vice president, said in a statement. The US Bank money was "the last piece of financing we needed," Samschick added.
Contractor is Waterview Grande, architect is Woodcock Design, target completion is August 2015.